Bending Spoons Buys Video Platform Vimeo for $1.38 Billion

Bending Spoons has agreed to acquire Vimeo for $1.38 billion in an all-cash transaction, taking the public company private at a price of $7.85 per share for shareholders. Once a leading streaming video platform, Vimeo has shifted its focus toward business and enterprise users due to increased competition from platforms like YouTube.

Want More Context? 🔎